October 2015 Archives

On behalf of The Flanigan Law Group, A Professional Corporation posted in Inheritances on Tuesday, October 27, 2015.

It is estimated that baby boomer parents in the United States will transfer more than $30 trillion to their children over the next 30 to 40 years. While the economy will have a lot to do with whether that number rises or falls, distributing it, especially if there are multiple children poised to be beneficiaries, may be difficult.

On behalf of The Flanigan Law Group, A Professional Corporation posted in Estate Administration on Monday, October 19, 2015.

Being an executor of a person’s estate is not simply an honorary distinction. Executors have the responsibility of ensuring that a person’s assets are properly distributed, and they must answer questions about the estate; particularly to creditors. Because of these responsibilities, executors may see it necessary to hire outside professionals to administer the estate; including defending the estate from creditors, making proper valuations and completing a host of other responsibilities.

On behalf of The Flanigan Law Group, A Professional Corporation posted in Estate Planning on Monday, October 5, 2015.

The goal that people have when creating an estate plan is to leave something for their heirs and beneficiaries. While this is a well-intentioned goal, it could have adverse and unintended consequences, even for those in financial need.

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